Real Estate
Turn Your Property Into a Christ-Centered Legacy
Whether it’s developed property, undeveloped land, or property with a retained life interest, donations of real estate ensure that Catholic parishes, schools, and ministries as well as qualified non-profits have the resources to thrive for future generations.
Why Consider a Real Estate Gift?
Whether it’s developed property, undeveloped land, or property with a retained life interest, donations of real estate ensure that Catholic parishes, schools, and ministries as well as qualified non-profits have the resources to thrive for future generations.
By donating real estate, you can:
- Tax Benefits — Receive potential tax benefits, including a charitable deduction based on the property’s fair market value.
- Avoid Capital Gains Taxes — Avoid capital gains taxes associated with selling the property.
- Christ-Centered Giving — Make a significant contribution to a Christ-centered mission that aligns with Catholic values.
Accepted Real Estate Gifts
- Residential properties
- Commercial buildings
- Undeveloped land
- Property subject to a prior life interest
- Bargain sales
How it Works
Initial Review
The Foundation may require an environmental review to determine if the property has any potential issues. If concerns are identified, a Phase 1 environmental audit may be conducted by a qualified inspection firm. The donor is generally responsible for covering the cost of the audit.
Approval
Gifts of real estate to the Catholic Legacy Foundation of Acadiana (Tax I.D. #99-4679427) must be approved by the Finance Committee and the Foundation’s legal counsel to ensure alignment with the Foundation’s mission and policies.
Evaluation Criteria
- Usefulness for the Foundation’s purposes
- Marketability of the property
- Restrictions, easements, or limitations associated with the property
- Carrying costs such as insurance, taxes, and mortgages
- Results of the environmental audit
Valuation and Expenses
- Appraisal — The valuation of the property is based on a qualified appraisal conducted within 60 days of the gift date.
- Expenses — Any legal or administrative costs incurred by the Foundation to accept and process the gift are paid from the proceeds of the property upon liquidation.
Start Your Legacy Today
Ready to give a gift of real estate?
To explore how a gift of real estate can support the Catholic Legacy Foundation of Acadiana, contact us today.
Phone (337) 261-5642 | Email mtrahan@CLFAinc.org